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As part of the more comprehensive partnership, salesforce.com will standardize all of its solutions into Workday's offerings, and Workday will do the same with all of its offerings on salesforce.com's platform. The companies tout the expanded partnership as the "first comprehensive solution for running the world's largest enterprises in the cloud."

Commenting on the deepening of the two companies' relationship, Workday Chairman, co-founder, and co-CEO Aneel Bhusri said in a statement that "today's announcement is another exciting step forward driven by our mutual customers."

Salesforce.com chairman and CEO Marc Benioff added that the "salesforce.com's [customer relationship management] integrated with Workday [human capital management] and financial management is the best of both worlds: the customer applications from salesforce.com combined with HR and financials from Workday."

Benioff and Bhusri plan to host a conference call for press and analysts today at 4 p.m. Eastern Time to outline the details of the strategic alliance.

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Tim has been writing professionally for several years after spending 18 years (Whew! Was it that long?)in both the retail and institutional side of the financial services industry. Tim resides in Portland, Oregon with his three children and the family dog.